Arrange the steps in order to find out the value of goodwill based on Super Profit Method.

A. Calculate the super profit by deducting normal profit from the average profits

B. Calculate the normal profit on the firm's capital on the basis of the normal rate of return

C. Calculate the average profit

D. Calculate goodwill by multiplying the super profits by the given number of years' purchase

Choose the correct sequence from the options given below:

"Sometimes a partner is admitted into the firm with a guarantee of a certain minimum amount by way of their share in the profits of the firm." Identify which of the following is incorrect about such assurance.

A and B are partners. The net assets of the firm, including fictitious assets of Rs. 5,000, are Rs. 105,000. The total external liabilities of the firm are Rs. 20,000. The normal rate of return is 10% and the average profit of the firm is Rs. 12,000. The value of goodwill as per capitalization of super profit method will be :

Arrange the steps in proper sequence to calculate Goodwill through Super profits Method.

(A) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

(B ) Calculate the average profit.

(C) Calculate the super profits by deducting normal profit from the average profits.

(D) Multiply super profits by the given number of years purchased.

Choose the correct answer from the options given below:

At the time of admission of a new partner, if Profit and Loss Account debit balance exist in the books, then which of the following entry will be done in order to distribute it?

Rohit and Shobit are partners in a firm sharing profits in the ratio of 4:1. On April 15, 2025 they admit Nobit as a new partner. On that date, there was a balance of Rs. 80,000 in general reserve and a debit balance of Rs. 40,000 in the profit and loss account of the firm. Regarding adjustment of general reserve:

A newly admitted partner has the right to -